EUR/USD, GBP/USD, USD/JPY bid ahead of US presidential election
EUR/USD, GBP/USD, USD/JPY look bid ahead of the US presidential election, initial results of which are expected early Wednesday morning.
EUR/USD back above 200-day SMA
EUR/USD's bounce off its $1.0778-62 support area has taken it above its 200-day simple moving average (SMA) at $1.0869, practically to the June high at $1.0916, above which lies the July peak at $1.0948.
The 200-day SMA and the 25 October high at $1.0869-to-$1.0839 should now act as minor support ahead of the main $1.0778-to-$1.0761 support area.
GBP/USD aims for resistance
GBP/USD recovery from its $1.2844 late October low aims for the significant $1.3000-to-$1.3045 resistance area which this time round may well be breached amid the US presidential election. If so, the $1.3300 region would be back in sight.
Minor support can be found around the 23 October low at $1.2910.
USD/JPY side-lined
USD/JPY still has the ¥154.56 early June high and the ¥155.21 late July high in view.
Support is still seen along the 200-day simple moving average (SMA) at ¥151.54 ahead of the more significant ¥149.40-to-¥148.85 support zone.
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